Conclusion
This paper presents the results of the implementation and barriers of cost simulation techniques based on the perception of professionals working in construction projects in Malaysia. The associations between project cost performance and simulation techniques implementation, usage, and barriers are presented in this paper. The level of understanding and usage of simulation techniques in Malaysia is still low. These techniques have not been widely applied in cost management activities such as what-if analysis, cost estimation accuracy, risk analysis, and contingency cost estimation. The low uptake of these techniques can be related to some identified barriers including the high price of simulation techniques, lack of awareness, lack of skills, and sophistication of simulation process. Although the study did not find an association between the implementation of simulation techniques and project cost performance, there is a need to promote the application of these techniques to attain the other benefits of cost management during project planning and control. The full potential and benefits of simulation techniques can only be realized when these techniques are applied widely in construction projects. Construction key players including the government, construction associations, and performing organizations should have a role to play in increasing the awareness of simulation tools implementation and benefits. Consequently, more accurate cost estimation and control can be attained, which contribute to better project cost performance. The identified techniques and factors in this study can be used as a guideline for construction companies to increase simulation awareness, usage, and implementation. Future research can be conducted about trend analysis of technology usage and its association with cost performance over a period of time so the role of simulation can be understood better.
